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Samuel Engel, SH&E Vice President
Area of Specialization
Samuel is a recognized expert on international airline economics and strategic planning.  His analyses on behalf of airlines, investors and governments has supported multi-million-dollar investments and litigation results, as well as corporate decisions to pursue new business lines, routes and aircraft purchases.  Samuel brings special experience in airline pricing, distribution and revenue development, including multi-channel sales strategies.. Since 2008, he has also led SH&E’s Airline Management Consulting group.
Relevant Project Experience:

Expert Witness:  Testified in court cases, resulting in $80 million judgment for Hawaiian Airlines in one instance and new labor deals in another.  Calculated economic damages, forecasted demand and competition.

Bankruptcy Restructuring:  Led consulting effort in successful bankruptcy reorganization of Hawaiian Airlines.  Developed business plan and negotiating targets for aircraft leases, labor and other costs.  Drafted investor memorandum.  Developed fleet strategy.  Effort resulted in $125M recovery to creditors and equity holders.

Economic Analysis:  Evaluated economics of aviation policies, including cost-benefit of new airport noise rules in Florida and forthcoming white paper on impact of overturning airline deregulation in Hawaii.

Pricing Policy:  Led analytics for new pricing model in “fractional” corporate aviation.  Calibrated prices against operational costs and peak-period demand.  Drafted presentations to build consensus among executives.

Airline Business Plans:  Developed and assessed plans for cross-border investments, including capitalization of Virgin America, Thai Airways, BRA Brazil, and new ventures in Africa.  Evaluated demand, risks and success factors.

Financial Structure:  Developed new financial and contractual terms between major credit card issuer and large airlines to insure against multi-billion-dollar risk of airline liquidation.

Privatization:  Developed policy papers, valuations and offering memoranda to support airline privatizations, including current work at Kuwait Airways and earlier work at LOT Polish Airlines, Dominicana and others.

Airport Investment:  Assessed investments in two Ecuadorian airports. At Quito, due diligence for Ex-Im Bank and OPIC supported $350M investment.  At Guayaquil, developed operating model for private sector investor.

Airport Development:  Supported State of Mexico to assess feasibility of second airport for Mexico City, leading to over 50 new daily jet departures at Toluca Airport, principally from new low cost carriers.

Background
Samuel has worked as an international strategy consultant for over 15 years, first advising multinational consumer products companies on their expansion strategies in what were then the “new” markets of Eastern Europe, and then specializing in aviation economics during his MBA at Yale.  Samuel has been with SH&E since 1998, where he has helped executives reach consensus around critical airline financial decisions.  Clients appreciate Samuel’s sophisticated analytical capabilities, effective communication skills and commitment to drive projects to completion. In 2000, Samuel spent a year away from SH&E to help launch Priceline.com in Europe, where he led planning for the internet retailer's airline product.
Education
MBA, Yale.
BA, magna cum laude, Phi Beta Kappa, U. Penn.
Languages
English, French, Hungarian; some Italian and Spanish.